SENATE AMENDMENT
Bill No. CS for SB 1210
Amendment No. ___ Barcode 740410
CHAMBER ACTION
Senate House
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11 Senator Latvala moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 4, lines 10-29, delete those lines
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16 and insert: applicable premium rates. Changes in rates,
17 rating manuals, and rating schedules for individual health
18 insurance policies shall be filed for approval pursuant to
19 this paragraph. Prior approval shall not be required for an
20 individual health insurance policy rate filing which complies
21 with the requirements of paragraph (6)(f). Nothing in this
22 paragraph shall be construed to interfere with the
23 department's authority to investigate suspected violations of
24 this section or to take necessary corrective action where a
25 violation can be demonstrated. Nothing in this paragraph shall
26 prevent an insurer from filing rates or rate changes for
27 approval or from deeming rate changes approved pursuant to an
28 approved loss ratio guarantee pursuant to subsection (8). This
29 paragraph does not apply to group health insurance policies
30 insuring groups of 51 or more persons, except for Medicare
31 supplement insurance, long-term care insurance, and any
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4:54 PM 04/17/01 s1210c1c-19k0a
SENATE AMENDMENT
Bill No. CS for SB 1210
Amendment No. ___ Barcode 740410
1 coverage under which the increase in claim costs over the
2 lifetime of the contract due to advancing age or duration is
3 prefunded in the premium.
4 (f) An insurer that files changes in rates, rating
5 manuals or rating schedules, with the department, for
6 individual health policies as described in s.
7 627.6561(5)(a)2., but excluding Medicare supplement policies,
8 according to this paragraph may begin providing required
9 notice to policyholders upon filing provided the insurer
10 certifies that it has met the requirements of subparagraphs 1.
11 through 3. of this paragraph. Filings submitted pursuant to
12 this paragraph shall contain the same information and
13 demonstrations and shall meet the same requirements as rate
14 filings submitted for approval under this section, including
15 the requirements of s. 627.411, except as indicated in this
16 paragraph.
17 1. The insurer has complied with annual rate filing
18 requirements then in effect pursuant to subsection (7) since
19 the effective date of this paragraph or for the previous 2
20 years, whichever is less and has filed and implemented
21 actuarially justifiable rate adjustments at least annually
22 during this period. Nothing in this section shall be construed
23 to prevent an insurer from filing rate adjustments more often
24 than annually.
25 2. The insurer has pooled experience for applicable
26 individual health policy forms in accordance with the
27 requirements of subparagraph (6)(e)3.
28 3. Rates for the policy form are anticipated to meet a
29 minimum loss ratio of 65 percent over the expected life of the
30 form.
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SENATE AMENDMENT
Bill No. CS for SB 1210
Amendment No. ___ Barcode 740410
1 As used in this paragraph, the term "rating characteristics"
2 means demographic characteristics of individuals, including,
3 but not limited to, age, gender, occupation, geographic area
4 factors, benefit design, smoking status, and health status at
5 issue.
6 (g) Subsequent to filing a change of rates for an
7 individual health policy pursuant to paragraph (f), an insurer
8 may be required to furnish additional information to
9 demonstrate compliance with this section. If the department
10 finds that the adjusted rates are not reasonable in relation
11 to premiums charged pursuant to the standards of this section,
12 the department may order appropriate corrective action.
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16 And the title is amended as follows:
17 On page 1, line 6, after the semicolon,
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19 insert:
20 revising requirements for filing and approval
21 of individual health insurance rates;
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